Apple Inc. (NASDAQ:AAPL) Stock Holdings Trimmed by Twin Lakes Capital Management LLC

Twin Lakes Capital Management LLC lessened its stake in Apple Inc. (NASDAQ:AAPL) by 0.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 82,306 shares of the iPhone maker’s stock after selling 369 shares during the quarter. Apple accounts for about 10.9% of Twin Lakes Capital Management LLC’s portfolio, making the stock its 2nd largest holding. Twin Lakes Capital Management LLC’s holdings in Apple were worth $20,611,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Drystone LLC acquired a new position in shares of Apple during the fourth quarter valued at approximately $25,000. Conquis Financial LLC acquired a new position in Apple during the fourth quarter worth $63,000. LSV Asset Management acquired a new position in Apple during the fourth quarter worth $65,000. Pillar Financial Advisors LLC acquired a new stake in shares of Apple in the fourth quarter valued at $82,000. Finally, Compass Planning Associates Inc acquired a new stake in shares of Apple in the fourth quarter valued at $96,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the topic of a number of analyst reports. Scotiabank cut Apple to a “market perform” rating in a research note on Friday, May 2nd. KeyCorp raised Apple from an “underweight” rating to a “sector weight” rating in a report on Monday, April 14th. Monness Crespi & Hardt lifted their price objective on Apple to $245.00 and gave the company a “buy” rating in a report on Tuesday, June 10th. Tigress Financial lifted their price target on shares of Apple from $295.00 to $300.00 and gave the company a “strong-buy” rating in a research report on Thursday, April 3rd. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Apple in a research report on Wednesday, May 21st. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $234.86.

Insider Activity

In other Apple news, COO Jeffrey E. Williams sold 35,493 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total value of $7,950,786.93. Following the sale, the chief operating officer now owns 390,059 shares in the company, valued at approximately $87,377,116.59. This trade represents a 8.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy D. Cook sold 108,136 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the completion of the sale, the chief executive officer now owns 3,280,295 shares in the company, valued at $733,637,976.75. The trade was a 3.19% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 191,507 shares of company stock worth $42,694,080. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Up 0.5%

Shares of NASDAQ AAPL opened at $196.58 on Thursday. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The firm has a fifty day moving average of $202.17 and a 200-day moving average of $222.30. The stock has a market capitalization of $2.94 trillion, a PE ratio of 30.62, a P/E/G ratio of 2.18 and a beta of 1.22. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 167.24%. The firm had revenue of $95.36 billion during the quarter, compared to analysts’ expectations of $94.04 billion. During the same period in the prior year, the company earned $1.53 EPS. The firm’s revenue was up 5.1% on a year-over-year basis. On average, analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were issued a $0.26 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a yield of 0.53%. This is a positive change from Apple’s previous quarterly dividend of $0.25. Apple’s payout ratio is currently 16.20%.

Apple announced that its Board of Directors has authorized a share buyback program on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

About Apple

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.